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Hospital CEOs take pay cuts amid COVID-19

May 11, 2020 / Stephanie Goldberg

Some hospital CEOs are taking pay cuts as COVID-19 losses mount.

As the virus spread beginning in mid-March, the falloff in patient volume and a ban on lucrative nonemergency surgeries led many hospital chains to lose tens of millions of dollars a month or more.

As of Monday, facilities in Illinois that meet certain safety and capacity requirements are now able to offer some elective surgeries. Still, to ensure financial stability, organizations like Advocate Aurora Health and Loyola Medicine have had to cut costs—including at the top.

Advocate Aurora CEO Jim Skogsbergh’s base salary is being cut in half this month until at least mid-August. The 28-hospital chain did not provide Skogsbergh’s current pay, but he took home a total of $8.5 million in 2018 when his base salary was $1.8 million, according to recently released filings.

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Chris J. Stewart

Chris currently serves as Chief Executive Officer of Surgio Health as well as COO at Ortho Spine Partners. Chris has close to 20 years of healthcare management experience with an infinity to improve healthcare delivery through the development and implementation of innovative solutions that solve real problems that result in improved efficiencies, reduction of unnecessary financial & clinical variation, and help drive better patient outcomes. Previously, Chris was assistant vice president and business unit leader for HPG/HCA. He has presented at numerous healthcare forums on topics that include disruptive innovation, physician engagement, shifting reimbursement models, cost per clinical episode and the future of supply chain delivery.

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